s 133CA
In forceProhibition on entering, or increasing the credit limit of, short‑term credit contracts
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 3Responsible lending conduct
Part 3-1Licensees that provide credit assistance in relation to credit contracts
Division 4Obligations of credit assistance providers before providing credit assistance for credit contracts
133CA Prohibition on entering, or increasing the credit limit of, short‑term credit contracts
Prohibition
(1)
A licensee must not:
(a)
enter a short‑term credit contract with a consumer who will be the debtor under the contract; or
(b)
increase the credit limit of a short‑term credit contract with a consumer who is the debtor under the contract.
Civil penalty: 5,000 penalty units.
Offence
(2)
A person commits an offence if:
(a)
the person is subject to a requirement under subsection (1); and
(b)
the person engages in conduct; and
(c)
the conduct contravenes the requirement.
Criminal penalty: 50 penalty units.
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.